IOI Builds on Company's First Offtake Heads of Agreement Signed in May, Reinforcing Growing Commercial Momentum for Fort Cady Boric Acid
HESPERIA, CA / ACCESS Newswire / July 1, 2026 / 5E Advanced Materials, Inc. ("5E" or the "Company") (NASDAQ:FEAM), a company focused on becoming a vertically integrated global leader and supplier of refined borates and advanced boron derivative materials, today announced it has signed an indication of interest ("IOI") with a domestic industrial end-user for the purchase of boric acid and calcium sulphate products from the Company's Fort Cady Integrated Boron Facility. This marks the Company's second commercial milestone in two months, further demonstrating growing customer demand.
"This second commercial milestone in as many months underscores the breadth of demand we are seeing from domestic industrial end-users for a reliable, U.S.-based source of boric acid," said Paul Weibel, Chief Executive Officer. "Following our first offtake agreement in May, this new indication of interest reflects the continued response from our customer outreach efforts and reinforces the growing pipeline of commercial opportunities supporting Fort Cady's path toward bankability."
Highlights Include:
Signing of an indication of interest with a domestic industrial end-user - The IOI outlines the preliminary interest of a U.S.-based industrial customer in purchasing boric acid and calcium sulphate products from 5E, contemplating a 5-year term with an annual minimum offtake volume of approximately 3,750 short tons of boric acid and calcium sulphate and a maximum offtake volume of approximately 4,500 short tons of both products, at a fixed price subject to an annual escalation. The arrangement is subject to satisfactory evaluation of product quality and specifications, evidence of consistent production capability, and the negotiation and execution of a definitive purchase agreement.
Continued validation of 5E's product and growing commercial pipeline - The IOI follows the first offtake heads of agreement, a 10-year term agreement with a domestic industrial customer, announced in May 2026, and reflects ongoing momentum from 5E's customer engagement efforts across multiple industrial end markets.
Advancing toward additional definitive commercial agreements - 5E continues to advance discussions with this and other prospective customers, with the goal of converting non-binding indications of interest and heads of agreement into definitive, binding offtake agreements that support the Fort Cady Project's path toward a Final Investment Decision.
Reinforcing demand for a resilient domestic boron supply chain - Management believes the continued interest from industrial end-users further validates the urgent need for a reliable, U.S.-based supplier of boric acid and specialty boron derivative products amid ongoing supply chain constraints.
About 5E Advanced Materials, Inc.
5E Advanced Materials, Inc. (NASDAQ:FEAM) is a development-stage company focused on becoming a vertically integrated global leader and supplier of refined borates and advanced boron materials, complemented by calcium-based co-products, and potentially other by-products such as lithium carbonate. The Company's mission is to become a supplier of these critical materials to industries addressing global decarbonization, energy independence, food, national security, and the defense sector. The Company believes factors such as government regulation and incentives focused on domestic manufacturing and supply chains and capital investments across industries will drive demand for end-use applications like solar and wind energy infrastructure, neodymium-iron-boron magnets, defense applications, lithium-ion batteries, and other critical material applications. The business is based on the Company's large domestic boron resource, which is located in Southern California and designated as Critical Infrastructure by the U.S. Department of Homeland Security, and boron was added to the U.S. Department of the Interior's 2025 Critical Minerals List.
Forward Looking Statements
Statements in this press release may contain "forward-looking statements" that are subject to substantial risks and uncertainties.Forward-looking statements contained in this press release may be identified by the use of words such as "may," "will," "should," "expect," "plan," "anticipate," "could," "intend," "target," "project," "contemplate," "believe," "estimate," "predict," "potential" or "continue" or the negative of these terms or other similar expressions, and include, but are not limited to statements regarding the Company's non-binding indications of interest and offtake heads of agreement; the potential negotiation and execution of definitive, binding offtake and purchase agreements; contemplated volumes, term, pricing and escalation terms; customer evaluation of product quality, specifications and production capability; the Company's customer outreach and engagement efforts and its growing pipeline of commercial opportunities; the potential for customer commercial arrangements to support the Fort Cady Project's path toward bankability and a Final Investment Decision; expected demand for a reliable, U.S.-based supplier of boric acid and specialty boron derivative products amid ongoing supply chain constraints; and the Company's ability to advance the Fort Cady Project toward future financing and construction readiness. Any forward-looking statements are based on 5E's current expectations, forecasts, and assumptions and are subject to a number of risks and uncertainties that could cause actual outcomes and results to differ materially. For a discussion of other risks and uncertainties, and other important factors, any of which could cause our actual results to differ from those contained in the forward-looking statements, see the section entitled "Risk Factors" in 5E's most recent Annual Report on Form 10-K and its other reports filed with the SEC. Forward-looking statements contained in this announcement are based on information available to 5E as of the date hereof and are made only as of the date of this release. 5E undertakes no obligation to update such information except as required under applicable law. These forward-looking statements should not be relied upon as representing 5E's views as of any date subsequent to the date of this press release. In light of the foregoing, investors are urged not to rely on any forward-looking statement in reaching any conclusion or making any investment decision about any securities of 5E.
For further information contact:
Investor Relations
Brett Maas
Hayden IR, LLC
FEAM@haydenir.com
Ph: +1 (480) 861-2425
Media Relations
Paola Ashton
PRA Communications
team@pracommunications.com
Ph: +1 (604) 681-1407
SOURCE: 5E Advanced Materials, Inc.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/metals-and-mining/5e-advanced-materials-signs-second-milestone-boric-acid-indication-of-interest-wi-1184993
